Charles Schwab Investment Management Inc. Has $24.65 Million Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Charles Schwab Investment Management Inc. grew its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 440,250 shares of the company's stock after purchasing an additional 6,384 shares during the period. Charles Schwab Investment Management Inc. owned about 0.72% of Rhythm Pharmaceuticals worth $24,645,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RYTM. Loomis Sayles & Co. L P purchased a new stake in shares of Rhythm Pharmaceuticals during the third quarter valued at $33,353,000. Alkeon Capital Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 16.8% during the third quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company's stock valued at $61,176,000 after purchasing an additional 167,700 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Rhythm Pharmaceuticals by 14.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company's stock worth $58,208,000 after acquiring an additional 143,800 shares in the last quarter. Barclays PLC lifted its stake in Rhythm Pharmaceuticals by 79.6% in the 3rd quarter. Barclays PLC now owns 106,397 shares of the company's stock worth $5,574,000 after acquiring an additional 47,166 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its stake in Rhythm Pharmaceuticals by 1.9% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company's stock worth $126,624,000 after acquiring an additional 45,648 shares in the last quarter.

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Rhythm Pharmaceuticals Trading Down 4.0 %

RYTM traded down $2.19 during midday trading on Friday, reaching $52.04. The company's stock had a trading volume of 902,524 shares, compared to its average volume of 485,665. The company has a fifty day simple moving average of $55.30 and a 200 day simple moving average of $54.84. Rhythm Pharmaceuticals, Inc. has a twelve month low of $35.17 and a twelve month high of $68.58. The stock has a market cap of $3.29 billion, a P/E ratio of -12.02 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. Sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on RYTM. Needham & Company LLC increased their price objective on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday. The Goldman Sachs Group increased their price objective on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Morgan Stanley reissued an "overweight" rating and issued a $72.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Friday, March 7th. JMP Securities reissued a "market outperform" rating and issued a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Finally, Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research report on Thursday, January 2nd. They issued a "buy" rating and a $80.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Rhythm Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $69.46.

Insiders Place Their Bets

In related news, EVP Yann Mazabraud sold 75,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $51.48, for a total transaction of $3,861,000.00. Following the completion of the transaction, the executive vice president now owns 40,370 shares in the company, valued at $2,078,247.60. This trade represents a 65.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Paul German sold 635 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total value of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares of the company's stock, valued at $118,445.40. This trade represents a 23.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,787 shares of company stock worth $5,762,443. 5.60% of the stock is currently owned by company insiders.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.